Birla Sun Life Insurance covers all the way

Amrita Chauhan, TNNNov 3, 2003, 12.53am IST

Term plans are meant to cover the life of the insured and a pure term policy is the most basic form of insurance where the sum assured is payable only in case of death of the insured during the term of the policy. As time goes by people's requirements changing, a lot of variations of term plans have been introduced in the market. Birla Sun Life Insurance (BSLI) has launched two such term plans. One comes with the option of Return of Premium and the other without it. The differentiating factor is the critical illness protection being offered along with the term plan. While the life of the insured is of utmost importance, it is also equally important to insure against any critical illness, as that can be a major drain on the resources of the family. And with today's sedentary lifestyles, it is important to cater to those unexpected expenses that might have to be incurred suddenly.

Keeping this in mind, BSLI has introduced the Birla Sun Life Medicare Plans, which combines the security of life insurance with health related protection.

The first option is a combination of a Term Plan and the Critical Illness benefit. Here, if the life insured is to suffer from any of the critical illnesses as covered under the plan, the entire face amount of the Critical Illness benefit is payable to the insured. The four Critical Illnesses are heart attack, stroke, cancer and surgery to coronary arteries.

The base term plan continues till its maturity which means that in the unfortunate event of the policyholder's death during the tenure of the plan, the face amount of the term plan is payable additionally to the nominee.

This plan is available in two terms 20 years and 25 years. The 20-year plan is available to individuals between the age of 25 and 45 years while the 25-year plan is available to individuals between the ages of 25 and 40 years.